Southern Europe
GLOBAL - Lehman Brothers restructures management team
Lehman Brothers is restructuring its management team, appointing Eric Felder and Hyung Soon Lee as global co-heads of fixed income to replace Andrew Morton, who is leaving the firm after just seven months in the position.
SPAIN - Hutton Collins-backed Futura resumes operations
Report suggest that Spanish charter carrier Futura International Airways, which is backed by Hutton Collins, has resumed flights after seeking bankruptcy protection.
GLOBAL - Bear Stearns Private Equity re-brands
Bear Stearns Private Equity Ltd will change its name to JP Morgan Private Equity Ltd (JPEL).
UK/NETHERLANDS – Apollo joins bidding for Reed
Apollo, alongside former non-executive director Strauss Zelnick, have jointly made a bid for publisher Reed Elsevier’s business information division.
EUROPE - Fortis launches EUR 400m clean energy fund
Fortis Investment has launched a new EUR 400m fund dedicated to investments in clean energy companies in Europe.
ITALY - Change Capital to sell Jil Sander for EUR 167m
Change Capital Partners has agreed to sell fashion brand Jill Sander Group to Tokyo-listed apparel group Onward Holdings Co Ltd and its European subsidiary, GIBO Co SpA for EUR 167m.
SPAIN - Quercus to sell Imago
According to sources, Agrolimen Quercus Equity has mandated Lazard to run an auction for its electric billboard business Imago, with the ticket price understood to be around the EUR 100m mark.
SPAIN - Axón launches ITC fund
Axón Capital has launched its second fund, Fondo Axon II CM-TMT, with EUR 15m in capital committed.
GLOBAL - First Reserve to invest in nuclear venture
According to reports, US group First Reserve, which specialises in the energy sector, will reveal plans later this week for an investment worth hundreds of millions of dollars into Accord Nuclear Resources, a nuclear fuel venture headed by two uranium...
EUROPE - SL Capital reaches fourth closing on EUR 520m
SL Capital Partners has reached the fourth closing of its European Strategic Partners 2008 (ESP 2008) fund-of-funds on EUR 520m.
GLOBAL - Private equity drawn to distressed debt
Reports suggest that private equity firms with large pots of capital from recent fundraising efforts are taking advantage of the current market conditions by acquiring increasing amounts of distressed debt from banks.
SPAIN - Cortefiel circled by distressed funds
According to reports, distressed debt funds are seeking to purchase some of the debt held by retailer Cortefiel, owned by Permira, CVC and PAI Partners, which is now trading at 42% of face value.
GLOBAL - Carlyle’s Louis Gerstner to retire
Carlyle Group chairman Louis Gerstner has announced his intention to step down from his post next month after five and a half years at the job.
SPAIN - 3i acquires Mémora in EUR 330m deal
3i has acquired a 75% stake in funerary business Mémora Inversiones Funerarias from Acciona for EUR 225m, in a deal which values the company at EUR 330m including debt. The transaction, which remains subject to approval by anti-trust authorities, will...
UK/NETHERLANDS - Private equity interest in Reed Elsevier's trade publishing unit
Several private equity firms are thought to be among the 12 bidders that have made it through to the second round of the auction for publisher Reed Elsevier's business magazines unit, which is expected to fetch between £1bn and £1.25bn.
US - Linklaters hires Jeffrey Schmidt for New York office
Linklaters has appointed Jeffrey Schmidt as partner in the New York office.
GLOBAL - Permira beefs up Asian presence
UK-based buyout house Permira has appointed longtime Goldman Sachs banker Henry Chen as its head for Greater China.
EUROPE - Earlybird closes new fund on EUR 127m
Earlybird has held a final closing of its new fund Earlybird IV, with investors from Germany, the US, Asia and the Middle East committing EUR 127m towards the early-stage financing of young, innovative companies.
ITALY – Alto acquires Monviso
Alto Partners has acquired a stake of close to 90% in biscuit manufacturer Monviso in a deal valued at between EUR 30m and EUR 35m.
EUROPE - Apollo and Lazard join forces
US buyout house Apollo Management and investment bank Lazard have announced a strategic partnership for private equity in Europe.
GLOBAL - Private equity investments drop 40%
A new report published by International Financial Services London has revealed that private equity investments have declined by approximately 40% in the first half of 2008 compared to the corresponding period last year.
EUROPE - RBS et al sell ABN assets for £156m
Reports suggest that Royal Bank of Scotland, alongside Fortis and Santander bank, has sold a portfolio of seven private equity assets controlled by ABN Amro to a consortium led by Goldman Sachs in a deal thought to be worth around £156m.